<If you wait till you are sure it will be too late. That is the nature of the market. I'd say the worst case is pretty much already priced in.>
As I sit here, picking the fuzz out of my navel and musing over the chart, I am trying to think of one good reason why ATHM should break support here... I can think of none.
OTOH, the anticipation of the new BB site, a second quarter of positive earnings, issuance of the tracking stock, and the resolution of Portland, make a strong case for a move up.
Of course, one might argue that the tracking stock adds no shareholder value... but neither does a stock split... and
"open access" is a moot issue... but that "dark cloud" still weighs on the share price, and a decision, either way, lifts that cloud... and
the BB site... what BB site ? ... I'll believe it when I see it... hmmm... well, this stock has been beaten so severely, that any improvement is likely to have a positive effect on the share price...
Bottom line... we have visible news on the horizon. At this important level of support, and with pessimism hanging thick, that news is likely to have a positive effect on the share price.
Mike
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